Los Angeles daily herald., 1887-06-28
LEGISLATION and Business.

Daring the last national political cam.
paign, we frequently urged that what
the country was most in need of in the
way of legislation was that Congress
should let business matters entirely
alone. that what the material interests
of the Union would flourish most on
would be to allow men of affairs, those
thoroughly conversant with finances and
industries, and most vitality interested
in their prosperity, to attend to these
things themselves in their own way
We pointed out time and again that
Congress, by its everlasting tinkering
with the tariff and the national debt,
and other matters directly affecting
business and finance, was the fruitful
source Of nearly all the industrial and
monetary trouble of the day. AT the
same time the view was pressed that the
only way in which to attain this so de.
sirable result was to put the govern
ment in the hands of the conserva.
tive party whose history since the found
alton of the nation had been always In
this line of policy. 1t seemed to be the
settled opinion of a large majority OF
the voters of the Union that these views
were correct. The proof Of this is found
in the election of the Democratic Pres
ident, and of working majority OF the
same party in the lower house of Congress.
Time sufficient to test the truth OF
such doctrines has elapsed since Mr..
Cleveland's Inauguration to the chief
executive office of the nation. He and
his advisors and colleagues have most
conscientio usly followed out the policy
outlined. The result is most evident
en- all sides.
But we do not care to appeal to our
own tito cnations in support OF these
statements. Fortunately, we are now
given the view of man on this point,
which probably may be accepted as
conclusive. Jay Gould stands at the
head of the financers and industrial ex-
ploi,ers of the land. The other day, at
the end of the stock furry on Wall
street, this gentleman was interviewed
by a reporter of the New Y York World
After discussing what came SO near
being a panic, the newspaper fellow
touched on broader interests, and asked
the gre at man of affairs if he thought
the CO untry would be injured by re-
turn of the Republican party to
power. Gould took the very sensible
posit on that the American government
could not be impaired by transitory party
changes, and that the material interests
of the Union could not be put in jeop-
ardy by such transitions of the national
part les to and from power. In reply to
the question "What legislation would
most benefit business?" the financier re-
piled ITO let business alone. The Amer
lean people want to be let attend to their
business affairs in their own way, and
the less Presidents and Congress inter.
fere with these things, the more prosper
Gus will the country be. If legislatures
met only once in three or even five years
it would be all the better"
Here is the opinion entertained by
nearly all the ablest men of the greatest
experience in affairs of the country. The
best policy for business is conservative
and stable policy. The worst is an EN-.
pirical policy, tinkering with things and
changing the bases on which values rest.
Stronger confirmation could not be had
of our position as previously stated than
these out-givings of Gould.
But if this be so, the duty of every
voter in the land to his own
interests would be to see that the
Democratic party shall be maintained in
power. The other great national party
in all its twenty-five years of power
showed an utter incapability of learning
to mind its own business. The spirit
which called the Republican party into
power was a pragmatic Puritanism al
ways inten. ON minding the affairs OF
other people, even at the risk of neg
lectipg itself. There always was self
abnegation about Puritanism, which
prompted il to force others to forego the
indulgence Of their darling sins, even
albeit the proper sins of Puritanism
grew apace under spiritual neglect.
Durirg the active sway of Republi-
canism, it developed at all points a
radical empiricism, which would let
nothi pg rest. It's restless spirit must be
experimenting, tinkering, trying some
radical change of policy. 1t has not
changed this tendency one jot. The
old spirit is still alive and will assert
itself whenever the opportunity occurs
Prosperity grows out of stability,
stability ests on a conservative policy,
and the Democratic party has always
been the conservative element of the
Union.
GEN. MILES is maintaining his fine
reputation as an Indian fighter. He
has forced part of the raiding Apaches
to return to the reservation. Now in
the name of common sense and human
LEI ba Eastarn aa, a., ~ M ol;a+